Is a premium domain the best choice for your business website?

Whether you’re just starting your business or looking to take your company to the next level, you know you need to have a strong, interconnected online presence. A website. Social media profiles. Your business info on directories, maps and review sites. This is how you’ll reach new customers and nurture loyalty among existing clients.
But what if you’re doing all the online marketing stuff you’re supposed to do, and you’re still not getting the kind of response you were hoping for? You might need to look more closely at one of the basics for success online: your domain name.
Your domain name is basically the street address for your business online — for example, or It might be a potential customer’s first point of contact. In today’s ultra-competitive online marketplace, you want your domain name to stand out. It needs to be memorable as well as descriptive. It needs to be easy to type into a browser or search engine. A .com with three dashes and four numbers is not easy to type into a browser.
You want to do your brand justice while making it easy for customers to find your website.
That’s why you might want to consider a premium domain.
Don’t focus on cost alone
Sometimes, the perfect domain name might come from someone else’s stash – premium domain names are names that are already owned by someone else, but available for sale. Take a look at these three reasons to invest in a choice name:
1. Trust, credibility, and branding
Nowadays, everyone wants a reputable, straightforward, memorable, and enticing domain name. With there being more than 250 million  domains in existence, your chances are pretty slim for grabbing the best .com name to represent your business. Throwing down the one-time investment to buy a premium domain name shows that you’re not just playing around, you’re playing for keeps.
Great domain names are short, sweet, and to the point. There’s a lot of be said for having a prime name that indicates who you are and what you have to offer without any additional words or phrases thrown in to dilute the credibility of your brand. Most people can remember and find websites with succinct names.    
2. Marketing and search engine compatibility
While it is true that Google® does not currently use a domain name to determine search engine rankings, there’s no doubt that a domain with descriptive keywords will help people find your website. And a premium name that has keywords already attached is one way you can start working on your organic SEO rankings (more on that below).
3. Return on investment
A new (non-premium) domain name might cost about $15 a year, but a premium domain might cost from several hundred to a couple thousand dollars for the initial year. Every year thereafter, however, the renewal defaults to the same price it would cost to keep any other domain active. You need to consider the return on investment. Besides the fact that you can register a memorable name that best describes your business, premium domains come with a history of keyword searches through search engines like Google®, Bing®, and Yahoo!®. This means that the premium name often comes with the prebuilt traffic and searches that regular domains will take years to acquire.
And that’s priceless.
An Arizona State University graduate with a specialization in communication and a focus on small business development, Steffi Chen helps SMBs grow through her work at GoDaddy. Connect with Steffi on Google+. The world’s largest domain name registrar and Web hosting provider, GoDaddy gives small business owners the tools to name their idea, build a beautiful online presence, attract customers and manage their business. To get more tips for your small business—including articles, videos and webinars—check out the GoDaddy Training Hub.